Is the US rapidly becoming a failed state due to its free market policies?

[doodab]

It is free market if you let banks create their own currencies.

And that is exactly what happened. Each bank (or goldsmith) created it's own gold backed paper money. There is in fact nothing to stop people doing the same thing now, in fact there is a roaring trade in "virtual" gold.

They do have special powers, they are the only line of business that can create money. That is a pretty special power.

But the power isn't "granted", it's earned, and it can be earned by anyone with the wherewithal to apply for a banking license.

[Robinho]

And that is exactly what happened. Each bank (or goldsmith) created it's own gold backed paper money. There is in fact nothing to stop people doing the same thing now, in fact there is a roaring trade in "virtual" gold.

Yes but they key is that money enforced by the state could not be created. I don't believe you're allowed to create private currencies in the UK, but there are loopholes.

But the power isn't "granted", it's earned, and it can be earned by anyone with the wherewithal to apply for a banking license.

And it is still not a free market principal.

[xoggoth]

Germany, a country with less than a quarter of its population

That point is silly. A country with a much larger area and population obviously has more capacity for production and a greater internal market and does not need to imort/export as much. After all, the world as a whole has a far greater population than the US and exports nothing.

[doodab]

Yes but they key is that money enforced by the state could not be created. I don't believe you're allowed to create private currencies in the UK, but there are loopholes

You believe wrong. People are free to accept any form of payment whether legal tender or not. There are dozens of alternative local currencies in the UK and the only thing stopping you from setting one up is that it needs to compete in a free market where people tend to prefer money backed by the state.

TBH I'm going to stop replying to you now cos life is too short to waste arguing with people who haven't got a clue what they are talking about.

[xoggoth]

I think also that the inequalities you speak of have always existed, indeed, been far greater than they are now. Parts of the Southern states, particularly the black areas, have been pretty third world but the nation as a whole performed well.

Various studies have indicated that extremes of inequality are damaging and there is a case for trying to bring the lower achievers up provided you can succeed. If you can't, you are just damaging the incentive of the performers to no purpose. Maybe if people really have the capacity to succeed then they will do it without execssive subsidy from others.

[Robinho]

TBH I'm going to stop replying to you now cos life is too short to waste arguing with people who haven't got a clue what they are talking about.

Thanks for being so charitable. You're right, i am wasting my life talking to morons like you.

[doodab]

Thanks for being so charitable. You're right, i am wasting my life talking to morons like you.

Yeah, you should stick to morons who can't read then you might have a chance.

[Robinho]

I thought you were going to stop talking to me?